The Advertising Standards Authority has forced a claims firm to change a misleading newspaper advert after a complaint by West Riding Personal Financial Solutions managing director Neil Liversidge.
EMCAS has been forced to amend an advert in a local paper which stated that ‘one in four investors may have been missold’.
The advert sourced this claim as taken from ‘FSA mystery shopper research on six firms, February 2013’.
Liversidge argued this was unfair as the research related to banks only, but the advert implied the statistic applied to all firms.
The ASA contacted EMCAS to ask them to amend the advert to state ‘six firms in the retail banking sector’.
The ASA says: “The advertiser has amended their advert in this way and we are satisfied that the amended advert is now unlikely to breach the code.”
Apfa council member Liversidge worked with Apfa’s research team to lodge the complaint.
Liversidge says: “This is a small victory. Hopefully through Apfa’s prompt action a lot of inconvenience will be avoided for adviser firms who won’t now be tarred with the same brush as the banks.”